Is a redenomination of BTC technically possible?

Is a redenomination of BTC technically possible?

Normies feel bad about pouring thousands of dollars into this and buying only a half or one third of a coin (the term coin, incidentally, adds more to the pain). They tend to buy "one whole" BTC, which will be not easy for a middle-class normie in a few years.

Suppose the total limit was upped to, say, 10x and is 210 million, with all wallets obviously compensated accordingly. 1 BTC would be $700 today. Not only would that make more normies come, it would also make the demand coming from that sort of people stay longer.

Also redenomination is when the face value of a currency is changed. Countries like Zimbabwe do it because they don't want to live with the shame of buying bus tickets with 100 trillion dollar bills. In BTC's case the process would be the opposite, and a zero would be added instead of removing.

I like this idea a lot

Just come up with a pleasing nickname for a fifth of a mBTC. Call it a whipple or fruffle or latinum or some stupid shit that's fun for normies to say. Sell them in that increment.

1bitcoin = 1000milibits
1milibit = 1000bits
1bit = 100 satoshi

I guess this is hard for Americans?

The way for this to happen is to have major exchanges like Coinbase adopt it.

we should just do thing like stock split

>latinum
>picture of Amrin Shimerman in the best television program of all time

Holy fuck sign me up, why is there not an ERC20 token called Latinum by now?

We already have Satoshi and it's catchy enough. But the Bitcoin brand name is above all this and any other possible mBTC namings.
Again, normies want Bitcoins. They have been hearing about Bitcoins, not a fraction of it.
It means more money coming to the crypto market. They would enter from Coinbase, they should unironically be the first one to accept that.

I was going to dismiss you as an idiot but the fact that some variation of this question comes up every fucking day shows that it must be a huge obstacle for normies to just move the decimal point in their head.

Somehow on we should only talk in sats guys and pretend that bitcoin is non divisible.

I'm not a burger so correct me if I'm wrong but isn't it literally the same as what I'm suggesting?

Been lurking here for 9 months, never seen this question. But I'll give you that if it makes you feel better about yourself.

By now everyone in crypto agrees that first mover advantage, brand name and billions of dollars of free media are all what BTC has. The final two are directly relevant to the word Bitcoin. You, or your friends, or all of Veeky Forums and bitcointalk and reddit combined cannot change it by calling Bitcoins sats or anything.

That is of course, if you want more normie money coming into the market.

No technical changes need to be made, it just needs rebranding. Just come up for a catchy name for a hundredth of a bitcoin and start saying "oh I bought 20 eDollars yesterday" or whatever. No software changes needed.

>is it technically possible

I too want to know.

In terms of intelligence im below normie level and owning only some fraction of a bitcoin has always bothered me, because i dont understand what a bitcoin is. Instead i just have a vague idea of a "bitcoin" and i want at least one of it, a whole number.

I think op is right, if it was cheaper to buy whole bitcoins more normie money would flow into it.

But maybe on the other side, that will take away from the sense of awe of a single bitcoin being a very high price thing and undermine the perceived strength of the whole enterprise

But anyway is it possible in terms of technology? Is this something the devs can choose to do if they wanted?

It needs to be roughly equivalent to a dollar and roll off the tongue. We all just think you're great but normies won't be impressed by your metric autism units.
>Again, normies want Bitcoins. They have been hearing about Bitcoins, not a fraction of it.
So you say "I'll sell you a fruffle of bitcoin". Then they think "wow! A whole fruffle of bitcoin!" Like a bushel of wheat or what have you.

That's not a bad way to go either. It would be harder to come up with that "fruffle" though, or justifying it, instead of just 10x'ing the whole thing.

don't need to. when the bulk of the adoption reaches the middle of the S curve, it will be far easier to deal in satoshis, and that's what people will do

nobody is going to fuck around with broken systems like mbtc or bits or any of that autistic shit

I agree that once buying 1 or even 0.5 of a bitcoin is out of reach for a regular normie (which is pretty much like weeks/months away) there may be some stagnation, but then again, the institutional investors are coming now and they are coming hard, that's gonna buld more trust for normies so they won't mind if it's a whole btc or not as long as their investment grows (and it will)

on the other hand if you do what you are talking about you destroy the luxury factor of only 21m bitcoins that will ever exists. Imagine if every celebrity/millionaire wants to have 1 whole btc for themselves. and even if you denominate btc x 10, when it reaches 100k you'll have the same problem again.
I would say leave it the way it is, people are greedy, even if they are too late they won't mind making good gains if btc earns their trust more and more.
And you have to realize that it's "safer" to invest in btc as time passes

the supply is unchanging and will never change

Burger measurement system
1 BTC = 2617 millibits
1 milibits = 692 bits
1 bit = 511 satoshi
They literally fucking think like this while measuring.

we need to sell them bitcoin packages to make them feel secure.

it already exists. It is called BitcoinZ and its asic resistant

I see where you're coming from but there are a number of financial instruments where institutions pour money into but normies don't, even if they can.
>and even if you denominate btc x 10, when it reaches 100k you'll have the same problem again.
As things stand, I think it's a fairly safe bet that BTC with 210m supply will never reach $100k.
Don't think of it as new coins being available though. It's just one zero.
That user at suggests the same as well. I don't see how that can be justified but that would work if pulled off somehow.

Waste of a dubs, shill elsewhere.

nobody is gonna add 10x supply to BTC

it must be other coin or a fork, deal with it

newb detected this debate was had about 2~3 years ago on btc talk.

At this point normies who can't unorm enough to figure it out, will be crushed even more for thier stupidity. So i dont care anymore. Why should we expend effort on normies stupidity

also this once you get into to btc everyone talks in sathoshis. Thats kinda why owning one btc is a big deal 10^8 sats

...

I did mention I've been here for about 9 months so yeah.
>Why should we expend effort on normies stupidity
So that they join the market and give us their money?
I have no problems with it unless the term Satoshi becomes as familiar and popular amongst normies as Bitcoin. It's all about the recognition.